NFT Pulse Index

I 100% agree we should have an NFT index. I do not think this is it.

  1. Twitter posts are not “macro” research lol. There are plenty of in-depth market reports on the NFT space, did you research those? Also Pomp is not a source for anything but amusement, please don’t mention him again
  2. Can you update tokens to link to their Coin Gecko pages, there is way more information there
  3. What made you change the tokens between your initial proposal and this one?
  4. How do you plan on managing the index over time with the rapidly evolving NFT space? You don’t actually have an evaluation method for the selection of tokens besides “strong community” and you don’t even explain what that means, why that’s beneficial, or compares to other tokens you didn’t include.
  5. DPI has over $12M in AUM, do you think tokens with <$1M liquidity could handle the buy pressure of these tokens?
  6. You say it rebalances “based on market cap, formula, and DPI comparative” can you give more details
  7. Set team can correct me but I’m 90% sure fees work similar to Social Traders on Set. As mentioned there is no premine or allocation, index tokens are constantly minted and redeemed by users with no fixed supply or control by us.
  8. You said “2% -> Cannibalizing market share from other Index Coop products” You realize cannibalizing is a bad thing and you want to incentivize that???

Overall I’d give a 2/10 the proposal. Not much original thought, in-depth analysis, nor a compelling reason for why you will be a good steward for this index going into the future.

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Twitter posts are not “macro” research lol. There are plenty of in-depth market reports on the NFT space, did you research those? Also Pomp is not a source for anything but amusement, please don’t mention him again.

I meant the text inside, all links related, attributes. He is an entrepreneur, he invested in many successful crypto projects, and you? I think we can learn something coming from him easily, this is an unnecessary judgment, and no, I don’t know him.

Can you update tokens to link to their Coin Gecko pages, there is way more information there.

Thank you for the info, I thought in a short text, macro view of the proposal, I have all those projects described and their functions, but I can’t imagine sharing everything in a pre-proposal without collecting feedbacks.

What made you change the tokens between your initial proposal and this one?

I probably could have added some more tokens. To be honest, I can’t see any issue here and why your question, because it can be edited anytime, and no, I will not include or exclude a token by any influence.

How do you plan on managing the index over time with the rapidly evolving NFT space? You don’t actually have an evaluation method for the selection of tokens besides “strong community” and you don’t even explain what that means, why that’s beneficial, or compares to other tokens you didn’t include.

I have a list of all tokens described, their functions, cases, NFT+DEFI, farming, the NFTs tokens have their products, and will be checked. Again, this is an MVP, short scope, and everything can be edited.

DPI has over $12M in AUM, do you think tokens with <$1M liquidity could handle the buy pressure of these tokens?

Yes, this is a market in action, and the scenario is bullish, everything is about iteration, constantly research, rebalancing, it will bigger than we can imagine as depth analysis is showing.

I shared only uniswap, many assets had more than one DEX listed.

You say it rebalances “based on market cap, formula, and DPI comparative” can you give more details
Set team can correct me but I’m 90% sure fees work similar to Social Traders on Set. As mentioned there is no premine or allocation, index tokens are constantly minted and redeemed by users with no fixed supply or control by us.

Fee split is under discussion, there are ideas, and it will probably be altered, thanks for the feedback.

You said “2% -> Cannibalizing market share from other Index Coop products” You realize cannibalizing is a bad thing and you want to incentivize that?

Fee split is under discussion, there are ideas, and it will probably be altered, thanks for the feedback.

Overall I’d give a 2/10 the proposal. Not much original thought, in-depth analysis, nor a compelling reason for why you will be a good steward for this index going into the future.

I respect your overview and points. This is an MVP, scope, iteration. I think we can’t judge any person by competence or capacity just reading a little text, it’s superficial, and also I didn’t mention that I will be leading the index in the future, can be you if there is a consensus, for example, I’m a part of that, in an overview, but it seems an attack.

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You seem to know a lot about many NFT projects. Basically I want to see an NFT Index too but not sure about the details. Would be nice if @opensea or some other methodologist like defipulse can join to bootstrap an Index. Would be nice if you can manage this somehow.

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Is the voting function activated? I’d like to support this proposal, it does make a lot of sense to gain overall exposure to NFT protocols.

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Thanks for your comment.

Well, as you said about defi pulse methodologies, the initial idea is to counts with their expertise, infrastructure, and both being part of rebalancing as well, I will not do it alone. The new NFT pulse index could be implemented on set docs, discord bot, and others.

@Opensea has great data and ranking as well: https://opensea.io/rankings

Thank you EJT!

This is a pre-proposal for collecting initials feedbacks, when that window ends, I will do the proposal. I hope to see you again. :slight_smile:

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Hey guys, pretty upsetting to see this but I’m going to assume that this was an honest mistake.

I’m working on launching a project for NFT index funds right now under the name NFTX. I own the .org domain, the .eth domain, and have been tweeting from the twitter handle @NFTX_.

I would appreciate if you changed the name for this product to something else.

Hi Alex!

This is an honest mistake, the X is suggestive being indeX, but the both product seems different. We have created @nftpulse account for that.

Question: I took a look in your product now, is token called $PUNK or $NFTX?

Hey Michael, thanks for the quick reply. I was originally planning on launching an $NFTX protocol token to go along with the index tokens being made (like PUNK). Decided I’m going to wait 6 months or so before launching $NFTX token and will just use the NFTX name for the platform for now.

I do not have copyrights or anything (and this is a permissionless space anyway, hah), so you guys are welcome to use that ticker if you want and then there can be two NFTX tokens in six months if all goes well.

Sorry about my crassness in my comment above, I jumped to the assumption my idea was being stolen but it doesn’t seem like that’s the case. So, ya, feel free to use that ticker, just know I might use it as well in 2021.

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Hi Alex, understood. Let’s agree that “X” at the end is suggestive, after all, lol.

Don’t worry, we are under discussion yet, this is not the final product, so we can thinking for sure, but we don’t want to steal intellect from anyone, and your feedback is very welcome.

Good luck to both haha, see ya.

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Hey Michae2xl, have you considered using NFTI as the ticker? I mentioned in my proposal the idea of trying to keep Index products consistent if possible, and using I at the end makes it more easily identifiable as an Index product. DPI, MVI, NFTI…

Hi!

No, I didn’t considered it before, also I saw what Kiba posted, he has it as his ticker as well, so let’s see.

PROPOSAL UPDATE

What changed? (5, 6) Objective, Methodology & Requirements, (3) 1 Asset, (7) Fees.

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Lets do this. Launch the NFT Index.

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Update: Dego migrated to BSC, so 5 assets are remained in ETH.

Hello.

The original idea is great.
Is it informally approved by the community ?
What are the next steps for this ?

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Hey there!

Thank you for the comment.

Well, some feedbacks are great and probably we could go forward with it.

The next step should be to create a pool for voting, also refine the proposal, all tokens again.

Totally love the idea of a NFT Index - though my initial concern is the market cap and liquidity of the constituents. For indices that are launched, they’d ideally be able to grow to $50M+ in market cap and the underlying liquidity be able to support large purchases ($50k+) in a single transaction.

Also, could you help describe a go to market plan on how this could potentially be really huge?

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I would also say that this proposal should include sharing the thought process behind why the assets are weighed as they are, because this is going to be important in the future.

First of all, what should the project be doing to be considered for the NFT Index? Because I can understand why most of the picks are there, but not for dego. To me, that just looks as risky as adding FARM or PICKLE to the DPI

DPI has a whole host of criteria for what can be considered for it, and I think you’re going to need to double down a lot on defining criteria. If it’s a marketplace, should it hit a certain threshold of volume to be considered? If it’s a game, does it need to hit a threshold of players? Do we take games under development, or does the game have to have launched something playable?

And how would the NFT index be different from a Gaming Index? (Which I would propose if there were more games actually playable) Will this try to keep a stable ratio between art and gaming and whatever category DEGO and MEME are? How would this adapt to future new categories?

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Interesting questions.

The concept of “NFT” is broad and encompasses multiple use-cases. It’s almost as broad as the concept of “ERC20” (or could become as broad).
Examples :

  1. An ENS domain name is an NFT.
  2. A tokenized physical good (real estate share for example) car totally be an NFT.
  3. yInsure, as far as I understand, is an NFT-ized version of some Nexus Mutual Covers.
  4. In-game items, skins or rights (ex: parcels in SAND or MANA).
  5. Art pieces.
  6. Branded scarce items (ex: virtual card of your favorite football player emitted by the club).

There are probably more types, but I can already distinguish a subcategory : The collectibles.

(2) and (3) probably don’t really fit in this category even though they might or might not be NFTs.
(1) is a complicated one, as a domain name can be used both productively or speculatively. However you can also argue that an in-game item can also be used “productively” given that you care enough about the game.
Thus, I’d consider (1), (4), (5) and (6) to fit into the Collectibles category.

Following this reasoning, the concept of Collectibles is still large but kind of gives an indicator about which projects are eligible or not. The concept only overlaps with @DarkForestCapital’s Metaverse Index Proposal on point (4) (in-game items), but that section is also one that features lots of tokens such as $MANA or $SAND. Today those are used as a currency to purchase virtual items (as far as I understand). If we exclude those, we decide the exclude tokens that are used as currency to purchase NFTs. Thus, do we exclude $MEME as well (one doesn’t use directly $MEME to purchase NFTs but needs to stake them) ? Or do we focus on generalized NFT marketplaces governance tokens such as $RARI (but it doesn’t only propose collectibles) ?

Intuitively, I’d said that anything that is linked to collectibles should be eligible, regardless of a strong intersection with the Metaverse Index - weighting could be totally different which still makes it a totally different index. If we choose to exclude what intersects with a Metaverse Index, then maybe it’s a little bit too soon to talk about an NFT/Collectibles Index.

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